Gallery Auction Results: Belltown Real Estate Unveiled

Looking for Belltown Gallery Auction Results? The Gallery Auction has long been one of Belltown's most anticipated events. It was astounding to witness the sheer volume of dollars that were spent on these places!

Gallery Auction results surprising for many! It was extremely interesting to see the mass exodus of hopeful would be Gallery Auction bidders who thought they might get a steal. There were some good deals last night, but nothing I couldn't have negotiated up front in a normal purchase and sale without the pressure of the auction itself. It just goes back to my earlier statement: "Do not be afraid to put in an offer that may not be socially acceptable." In the case of the Gallery before the auction, they may have taken it based on auction result numbers I saw last night.

So here are the Gallery Auction results as I recorded them personally, so I should put in a disclaimer that I am human and may have made a mistake. By the way, these are in auction bid order:

Unit SQFT Previous Price Min Bid Winning Bid Amt

1020 1438 $995,200 $449,000 $735,000

1103 1226 $895,990 $499,000 $650,000

920 1438 $995,200 $449,000 $607,000

820 1438 $990,200 $449,000 $592,000

720 1438 $923,400 $449,000 $588,000

903 1226 $895,990 $499,000 $621,000

703 1226 $795,900 $449,000 $548,000

1102 1301 $924,600 $449,000 $566,000

1002 1301 $887,500 $449,000 $564,000

702 1301 $810,700 $375,000 $547,000

1006 1066 $736,990 $325,000 $450,000

906 1066 $731,990 $325,000 $440,000

706 1066 $649,990 $325,000 $419,000

402 961 $573,400 $245,000 $412,000

1107 883 $636,500 $295,000 $462,000

1104 880 $619,990 $295,000 $455,000

1004 880 $573,200 $295,000 $413,000

1117 672 $504,500 $225,000 $380,000

1118 771 $509,990 $225,000 $344,000

1017 672 $467,600 $195,000 $338,000

1018 771 $499,990 $225,000 $337,000

618 845 $484,000 $215,000 $347,000

507 883 $466,300 $195,000 $282,000

407 883 $440,700 $195,000 $277,000

1111 603 $448,800 $225,000 $326,000

1011 603 $427,800 $215,000 $330,000

1115 586 $428,000 $225,000 $321,000

1015 586 $400,100 $215,000 $318,000

715 603 $365,100 $215,000 $310,000

620 843 $481,300 $225,000 $331,000

420 843 $467,800 $225,000 $289,000

1112 603 $426,400 $195,000 $301,000

1114 603 $425,000 $195,000 $300,000

1012 603 $413,800 $195,000 $297,000

612 603 $368,100 $195,000 $280,000

721 605 $388,700 $195,000 $243,000*

403 1160 $694,990 $399,000 $434,000

201 1116 $658,000 $335,000 $384,000

624 699 $410,700 $195,000 $300,000

424 699 $400,000 $195,000 $284,000

521 836 $423,800 $195,000 ***

421 836 $420,800 $195,000 ***

623 791 $424,500 $195,000 ***

423 791 $397,500 $195,000 ***

*In my opinion, the winning bidder for unit 721 probably got one of the best deals of the day. Although the unit is right next to the owner's lounge and I have heard that there is quite a bit of horizontal sound traveling in Gallery, this was a phenomenal price to get into that location!

*** At this point, I had to accompany my bidder out of the room, but I will update later with results from the last four auction results.

Gallery Auction Results Wrap Up -

Overall, I would say Gallery raked in far more dollar per square foot than I would expect them to have. I would say this proves that Seattle real estate is alive and well and that Belltown real estate is still moving! The condo market has definitely changed and we will be seeing more of these types of sales in my opinion based on the backlog of inventory.

Seattle real estate has been a huge part of my life for well over a decade since I began my career in real estate,but also before that time when I was in the process of purchasing my own first home. Buying your first home can be quite overwhelming,but I have managed to help many first time home buyers along the way.

Great wrap up Courtney! I think your take on "socially acceptable" lower offers is a good one and without the hype of the auction atmosphere, it's possible you could have negotiated a better deal for your client. But it IS great to see that the event was successful and there's good demand out there if the price is right!

Are they interestign numbers? I think there were a lot of people there who thought that the $195,000 price might be good for some of those units. I mean there was one unit that literally looked at a brick wall and had a giant column gogin through the middle of the kitchen (building support column). It was weird and still went for way over minimum. Might get people thinking more realistically about prices that these places are selling for.

I don't know Axe - I know a lot of the agents who worked the auction as independent contractors to get the documents done after a winning bid occurred and no one noticed anything that seemed off. I didn't like how they quickly bonked the price up in $25k increments at the beginning of each unit, but pretty standard buyers seems to be present. I am unsure as to how much homework some of the winners did though, because there really were only a couple super deals in my opinion. It was interesting at the very least:)

Hi Arnold! - Welcome to Active Rain! I look forward to reading more form you - I did see your post come on after I had put mine on and wanted to take a closer look - especially at those last four units. I was there as welll with clients, but one of my associates Laura Lee was there as an auction coordinator as well. It was pretty nuts, wasn't it? Again, looking forward to seeing more from you!

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